Your Hungarian company will most likely be a VAT subject, which means you will have to add VAT, or Value Added Tax to your sales. You will also be paying VAT on your purchases, but you will be able to reclaim VAT later.
Before you make your first hire at your Hungarian company, consider the payroll costs you will incur through their employment. Read on to learn about minimum wages, payroll taxes, and company costs.
Is your Hungarian company in need of some extra work force? Do you have recurring or seasonal tasks that would not warrant for a full-time employee? Consider employing students as a flexible and cost-effective solution.
While the 9% corporate tax in Hungary is already the most favorable option in the EU, you can further reduce what you pay in taxes with KIVA, the tax regime designed for small and medium sized companies. Let’s see if it is a good match for your Hungarian company!
All companies registered in Budapest have obligations towards BKIK, the Budapest Chamber of Commerce: every year, they must provide the Chamber of Commerce with information about their activity and pay a small contribution. However, joining BKIK is optional, meaning that the yearly contribution is not a membership fee. So what is the difference between the …
BKIK membership as opposed to yearly contributions Read More »
Applying for a VAT number is in most cases part of the company setup procedure. In Hungary, you can apply for an EU VAT number right when you register your company, without extra costs or waiting time. But what is a VAT number for?
